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Treasury Sanctions Iraqi Oil Official as DOJ Probes $2.6 Billion Iran Trade Mystery

The U.S. ramped up Iran oil sanctions on two fronts Thursday. Treasury blacklisted Iraq’s Deputy Oil Minister and three Iran-backed militia leaders, whereas ABC News reported DOJ and CFTC probes into roughly $2.6 billion in suspiciously timed oil trades.

Both threads belong to Operation Economic Fury, the marketing campaign squeezing Tehran’s income. OFAC’s targets allegedly funneled Iraqi crude to Iran, whereas regulators are analyzing whether or not merchants profited on advance information of presidential bulletins.

Treasury Targets Iran Oil Smuggling Network

OFAC designated Ali Maarij Al-Bahadly beneath Executive Order 13902, accusing him of utilizing his ministry posts since 2018 to counterpoint Iran-linked smuggler Salim Ahmed Said and the Asa’ib Ahl Al-Haq militia.

The company mentioned the community mixed Iranian crude with Iraqi barrels on the VS Oil Terminal, then solid provenance papers earlier than export. Three senior militia figures and 4 oil-services corporations had been additionally blacklisted.

“Like a rogue gang, the Iranian regime is pillaging assets that rightfully belong to the Iraqi individuals,” said US Treasury Secretary Scott Bessent.

The motion extends earlier Economic Fury strikes that froze $344 million in Tether (USDT) and seized near half a billion {dollars} in regime-linked crypto.

DOJ Probes $2.6 Billion in Bearish Oil Bets

Separately, ABC News reported that DOJ and the CFTC are reviewing 4 bearish oil positions positioned minutes to hours earlier than de-escalation announcements through the 2026 Iran battle.

LSEG knowledge exhibits:

  • A $500 million guess quarter-hour earlier than Trump delayed strikes on March 23,
  • A $960 million wager hours earlier than the April 7 ceasefire,
  • $760 million forward of Iran’s April 17 Hormuz assertion, and
  • $430 million earlier than the April 21 truce extension.

The knowledge doesn’t title merchants.

The sample echoes Polymarket instances the place wallets repeatedly profited on Iran outcomes forward of public information.

The twin probes increase the identical query throughout oil and crypto markets. Information about Trump’s Iran strikes could also be leaking earlier than it reaches public channels.

The put up Treasury Sanctions Iraqi Oil Official as DOJ Probes $2.6 Billion Iran Trade Mystery appeared first on BeInCrypto.

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